Re: SOL

Posted by Kyle Stone (68.248.112.14) on August 10, 2004 at 13:32:44:

In Reply to: SOL posted by mia on August 10, 2004 at 12:50:24:

I have been in the colleciton industry for years and most of the time I understand why people don't pay their bills on time - (bad things happen to good people). However, today I came across this board from a collegue that found it off an inquiry from a CBR we pulled looking for someone.

I just found this board - and it is frustrating. I can't believe that there is a message board for deadbeats trying to not pay their bills.

But anyway - I will answer your questions. SOL is different in every state - sometimes it goes off the defaul date or the DOLA or the LPD. They can sue you without the signed contract and still be awarded the judgment - they may not get the atty fees though. Once the judgement has been obtained then the SOL starts all over again at 10yrs - and they can reaffirm the JGMT after the 10 years and interest accrues daily at 19.9% or the max allowed in the state that you took it out in.

Yes they can sue you for the principal, interest, collection fees, atty fees, ect... it depends on the amount of the debt and the type of debt or the state you live in. Some states are debtor friendly and some are creditor friendly.

The CA dates on accounts have nothing to do with lawsuits. It all goes by the LPD, DOLA, of CO date. They have to show when the debt was in incurred and not sent into their office.

Anyway - I can't believe that people are activley trying to get out of their debts. What if you loaned your neighbor money - you would want it back on a timely mannor - if they did not pay you back you would be upset right. So why are you trying to get out of the debts you incurred voluntarily. I guess it is the American Way. Charge it up and not pay. Let the Big Companies foot the bill. Well if you think about it - this is why you pay more for things now. Becasuse there are millions of people that don't want to pay for things that they bought.

In conclusion - just call your CA and try to work with them - you might be suprised.

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